Oman-based Al Nakheel has signed a deal with the National Company for Construction Works (NCCW) for the construction package including roads and infrastructure of the $650 million Al Nakheel Integrated Tourism Complex (ITC) project.
The project, being developed by Alargan Towell Investment Company in Oman, is coming up on the seafront in the Wilayat of Barka in proximity to the Daymaniyat Islands Nature Reserve.
The signing covers the construction package for the roads. It will stretch over 500,000 sq m with the usufruct right, and almost one kilometer of waterfront overlooking the Sea of Oman.
Al Nakheel aims to strengthen the tourism sector, create more job opportunities and bring new tourism concepts to Oman in line with the Government’s Oman Vision 2040.
Mr. Mohammed Moosa Al Abri, CEO of Al Nakheel, said that “the signing reflects our commitment to develop the Al Nakheel project and to present new concepts to buyers, investors and tourists, citizens and residents, to support the Government’s endeavors towards achieving Oman Vision 2040.”
“We believe the project will attract local and foreign investments across various components of the project, create added value and contribute to the GDP of the sultanate,” Mr. Al Abri added.
The first construction package for the Al Nakheel project started earlier this year which included earthwork for the roads and the leveling of the land. The next phase will include enabling works for the Crystal Lagoon, roads, and infrastructure package.
Mr. Wissam Al Aani, Executive Representative of NCCW, commented that “the development of the project will empower the growth of Oman’s tourism and real estate sector and deliver a positive impact on the national economy.”